Rain Payments Services plans to support the issuance and management of prepaid card programs. These programs enable cardholders to access funds that have been loaded onto a digital wallet. Prepaid programs include:
Prepaid funds are made available to cardholders for purchases and withdrawals in accordance with applicable regulations.
Rain Payments Services plans to facilitate domestic and cross-border money movement in accordance with its licensed authority. This includes:
Money movement services are conducted subject to applicable compliance, reporting, and safeguarding requirements.
Rain Payments Services plans to support the conversion of fiat currency into digital dollar equivalents and the conversion of digital dollar equivalents into fiat currency where permitted. These services may include:
All conversion services are conducted within the scope of licensed activity and applicable regulatory requirements.
Rain Payments Services plans to support digital wallet capabilities. Digital wallets enable the creation of uniquely assigned account details for customers to receive and transmit funds. Digital wallet services include:
Digital wallets are used to support structured fund flows, including customer collections, program funding, and payment disbursements. All digital wallet activity is conducted in accordance with applicable licensing requirements and compliance obligations.
Rain Payments Services will operate under applicable money transmitter licenses and maintains policies and controls designed to support:
Programs are structured to comply with state and federal regulatory requirements in the jurisdictions in which services are offered.
Rain Payments Services, Inc. (NMLS ID: 2814492) is a Money Service Business registered with FinCEN, not an FDIC-insured bank.
